It's been an uphill slog for golf since the financial collapse of 2008, but if recent data are any indication, better times lie ahead for the game.

Despite a decline in the number of golfers and links in the U.S., rounds played in the first quarter of 2012 rose 22% from the same period in 2011, according to the National Golf Foundation, a trade group. The numbers were compiled from 15,753 courses in the U.S. NGF estimates there are 25.7 million Americans who golf.

Fore! Despite a decline in the number of U.S. golfers, rounds played are showing some positive trends so far this year.
William Waitzman for Barron's

Although the mild weather has supported the positive trend, NGF notes that even if statistics for the rest of the year remain flat, rounds would still have risen 2.7% from 2011, when rounds played fell 2.5%.

Similarly, the PGA is finding greener trends in the sport this year, with May rounds up 10.1% from the year-earlier month, on a 4.3% increase in days open. The PGA tracks 2,698 golf facilities across the country.

The rise marks the seventh monthly increase in a row in rounds played, although the PGA attributes the increase to unseasonably warm weather. Still, the NGF notes that golfers who say they're playing fewer rounds fell to 16%, the lowest since the 2008 first quarter.

Secretary of State Hillary Clinton will be in Israel to discuss the peace effort.

Tuesday 17

Fed Chairman Ben Bernanke testifies on monetary policy and the economy before the Senate Banking Committee. He's likely to be grilled on the Fed's knowledge of Libor manipulation. Blitz will be attuned to any suggestions of easing by loosening credit standards.